Levy Economics Institute – The State of the US and World Economie

“This program’s central focus is the use of Levy Institute macroeconomic models in generating strategic analyses of the US and world economies. The outcomes of alternative scenarios are projected and analyzed, with the resultspublished as Strategic Analysis reportsserving to help policymakers understand the implications of various policy options. The Levy Institute macroeconomic models, created by Distinguished Scholar Wynne Godley, are accounting based. The US model employs a complete and consistent system (in that all sectors sum up, with no unaccounted leakages) of stocks and flows (such as income, production, and wealth). The world model is a closed system, in which 11 trading blocsof which the United States, China, Japan, and Western Europe are fourare represented. This model is based on a matrix in which each blocs imports are described in terms of exports from the other 10 blocs. From this information, and using alternative assumptions (e.g., growth rates, trade shares, and energy demands and supplies), trends are identified and patterns of trade and production analyzed.

The projections derived from the models are not presented as short-term forecasts. The aim is to display, based on analysis of the recent past, what it seems reasonable to expect if current trends, policies, and relationships continue. To inform policy, it is not necessary to establish that a particular projection will come to pass, but only that it is something that must be given serious consideration as a possibility. The usefulness of such analyses is strategic: they can serve to warn policymakers of potential dangers and serve as a guide to policy instruments that are available, or should be made available, to deal with those dangers, should they arise.”

Subscribe to our Mailing List

Follow beSpacific

Searchable Database – Over 40,000 Postings

Searchable database of over 40,000 postings!

Support beSpacific

Research updates provided daily since 2002, with an emphasis on primary sources.

Awards for BeSpacific

American Bar Association

BeSpacific: “No one better has her finger on the pulse of the legal information world than Sabrina Pacifici, law librarian and author of the blog BeSpacific,” writes blogger Robert Ambrogi. “Launched in 2002, BeSpacific is one of the longest-running legal blogs and, remarkably, Sabrina seems more prolific today than ever. She posts multiple items every day, covering the gamut of law, technology and knowledge discovery and topics ranging from cybersecurity to legal research to government regulation to civil liberties to IP and more. For me, BeSpacific is one of my daily must-reads and has been for 14 years straight.”

Pages

LLRX

Sabrina is also the solo Editor, Publisher and Founder of LLRX.com® – Legal, technology and knowledge discovery resources on the “moving edge” for Librarians, Lawyers, Researchers, Academic and Public Interest Communities – launched in 1996.